Procurement
The average daily rate at Starwood Hotels & Resorts Worldwide properties increased by 2.1 percent year over year during the first quarter,
the company announced on Tuesday. ADR was up 4.2 percent in North America and down 0.4 percent in the rest of the world. In North America, ADR was up across all Starwood brands, most strongly in St. Regis/Luxury Collection (7.6 percent) and Le Meridien (6.6 percent). Outside of North America, ADR increased at all brands except Sheraton, which had an ADR decrease of 2.3 percent. Global occupancy increased by 1.5 percentage points to 65.3 percent. Starwood's net income for the quarter was $213 million, up from $128 million in the first quarter of 2012.